HealthAccord spotlights mental health and female athlete well-being
08 Feb 2024 10:28
Members of London-based Wentworth Golf Club, are reportedly ready to start a lawsuit against the club’s Chinese owners, the Reignwood Group (Chinese: 华彬集团).
It is said that a top local law firm has been employed to challenge the Beijing-based property development conglomerate, over its plans to slash membership numbers and dramatically hike joining fees.
The club, home to the annual PGA tournament, was bought by the Reignwood founder, Chinese-Thai entrepreneur Chanchai Ruayrungruang, for £135m in 2014.
Last year, the club’s members were told that, from April 2017, the membership will be reduced from 4,000 to 800, and that those invited to rejoin the club would be charged a one-off “debenture” of £100,000.
In addition to this, the annual fees are set to rise from £8,000 to £16,000 and new members will be asked to pay £125,000 to join, instead of the current fee of £15,000. Members and residents claim Reignwood want to turn the club into an exclusive enclave for the mega-rich, “many of whom won’t live full-time on the estate or in the UK”.
Source:scmp.com
Proofread by John Devlin
Discover why SportAccord plays central role for Silvers in strategic partnerships
22 Feb 2024 19:00
Related coverage
Rastar Group complete Espanyol takeover
21 Jan 2016
Golf starlet to represent le coq sportif in China
29 Oct 2015
Deng Yaping now President of sports startup
18 Aug 2016
PEAK Sports raise 680 million Hong Kong dollars
06 Jul 2015
China’s sports reform and brand-new opportunities: Part Ⅱ
29 Oct 2015
More from Yutang Sports
SPORTACCORD 2024 INSIGHTS: How Gaming is Changing our World
07 May 2024
SportAccord 2024 makes a memorable return to Birmingham
13 Apr 2024
Birmingham is embracing a bright future supported by extraordinary sporting legacy
17 Apr 2024
Expert insight | New changes on UEFA EUROs: growing maturity of Hisense and other Chinese brands
22 Jul 2024
Interview with Andreas Zagklis: to keep popularization of basketball with all-round strategy
08 Jul 2024
Yutang Sports
loading...